Greenleaf Trust Increases Holdings in Raymond James (NYSE:RJF)

Greenleaf Trust grew its holdings in shares of Raymond James (NYSE:RJF) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,873 shares of the financial services provider’s stock after buying an additional 190 shares during the quarter. Greenleaf Trust’s holdings in Raymond James were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Steph & Co. lifted its stake in Raymond James by 9.3% in the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 91 shares during the last quarter. Federated Hermes Inc. lifted its stake in Raymond James by 12.4% in the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares during the last quarter. Addison Advisors LLC lifted its stake in Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares during the last quarter. SVB Wealth LLC lifted its stake in Raymond James by 5.6% in the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 108 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in Raymond James by 3.2% in the third quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 118 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on RJF shares. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $116.00 target price (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Citigroup lifted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $110.00 to $135.00 in a report on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average target price of $123.88.

Insider Transactions at Raymond James

In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Raymond James news, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

NYSE RJF opened at $127.08 on Wednesday. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The firm’s fifty day simple moving average is $122.75 and its two-hundred day simple moving average is $112.17. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $26.56 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.88 and a beta of 1.05.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts forecast that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. Raymond James’s payout ratio is currently 22.56%.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.